CID files money laundering case against Flight Expert over Tk35 crore ticket fraud

The Criminal Investigation Department (CID) has filed a money laundering case against online travel agency Flight Expert (FEBD) and seven individuals, including its top executives, over allegations of embezzling advance payments collected for airline tickets that were never issued.

The case was lodged with Motijheel Police Station under the Money Laundering Prevention Act following an investigation by the CID's Financial Crime Unit.

According to the CID, Tk346.93 million (approximately Tk34.69 crore) obtained through the alleged fraud was transferred through multiple bank accounts and concealed in an attempt to disguise its origin.

Those named in the case are Flight Expert Managing Director and CEO Salman Bin Rashid Shah Sayem, President MA Rashid Shah Samrat, Directors Amir Hamza Rashid Shah Nayem, AKM Shahadat Hossain and Abdul Gani Mehedi, Head of Finance Md Sakib Hossain, and Motaher Hossain, proprietor of Soma International Services.

The details were disclosed in a CID media release issued on Monday.

According to the investigation, Flight Expert began operating as an online airline ticketing platform in 2016 before expanding its services to include hotel bookings, Hajj and Umrah packages, and other travel-related offerings. Although the company was registered as FEBD under the Joint Stock Companies registry in 2019, it continued operating and conducting banking transactions under both the names Flight Expert and FEBD.

Investigators found that the company sold airline tickets through both business-to-business (B2B) and business-to-consumer (B2C) channels. By offering unusually high discounts on various occasions, it allegedly collected large advance payments from sub-agents and customers across the country.

The CID alleges that instead of issuing the promised tickets, the company's Managing Director, Salman Bin Rashid Shah Sayem, left Bangladesh on 1 August 2025.

The investigation found that money deposited into FEBD-operated bank accounts was later transferred to various accounts maintained under the name Flight Expert.

Investigators also uncovered preliminary evidence that the funds were transferred, withdrawn and converted through accounts belonging to different individuals and organisations in an effort to conceal the source, ownership and nature of the proceeds. According to the CID, even after the managing director left the country, several directors and the company's Head of Finance continued withdrawing and transferring substantial sums from multiple bank accounts, indicating the alleged misappropriation of fraudulently obtained funds.

The CID further said Flight Expert sourced airline tickets through International Air Transport Association (IATA)-accredited travel agencies. However, in many cases, customers who paid the full ticket price allegedly never received their tickets. Investigators also found instances where payments were reportedly collected from multiple sources for the same ticket.

Based on its preliminary findings, the CID believes the company fraudulently misappropriated Tk346.93 million before laundering the proceeds through a series of banking transactions, transfers and conversions.

The CID said the investigation is ongoing and that further investigative activities will continue as part of the case.